Wildhorse Company is planning to produce 2,700 units of product in 2022. Each unit requires 3.6 pounds of materials at $7.2 per pound and a half-hour of labor at $16 per hour. The overhead rate is 60% of direct labor. (a) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ (b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ Per Unit Taythol and Media Sheridan Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch. 3,800 ounces of grape concentrate at $0.07 per ounce 54 pounds of granulated sugar at $0.45 per pound 60 lemons at $0.70 each 150 yeast tablets at $0.28 each 200 nutrient tablets at $0.17 each 1.900 ounces of water at $0.005 per ounce Sheridan estimates that 5% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used. Compute the standard cost of the ingredients for one gallon of wine. (Round intermediate calculations and final answer to 2 decimal places. eg. 1.25.) Standard Cost Per Gallon $ e Textbook and Media